Manulife Q4 2008 Earnings

Scotia Capital, 13 February 2009Increasing EPS Sensitivity to Equity Markets But Capital is Fine� Slight EPS miss. An EPS loss of $1.24 versus our $0.84 estimate, consensus of $0.94 and company Q4/08 guidance (December 2, 2008) of a loss of $1.00. A $0.40 EPS charge due to the sharp drop in December in swap interest rates used to value segregated fund liabilities accounted for the bulk of the